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Home Equity


Home Equity Loans & Lines of Credit

Improve. Add-On. Renovate.

Discover the equity in your home and turn your house into the home of your dreams..

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Home Equity Loans

With a home equity loan, you receive a lump sum of cash so that you can install your new flooring or remodel your kitchen. A home equity loan is also a great way to pay for a new home theater, afford a dream wedding or consolidate your debt.

Benefits include:

  • Easy application
  • Quick approvals with local decision making
  • Low, fixed rates
  • Funds received in one lump sum
  • No prepayment penalty

You can borrow against the equity you have in your home. Interest rates on a home equity loan are considerably lower than an unsecured loan or credit card, and interest may be tax deductible for home-related projects.* 

You can borrow up to 100% of your home’s fair market value and choose from terms up to 15 years.

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Home Equity Lines of Credit (HELOC)

Use the equity in your home! Apply for a line of credit. Spend the money however you want - renovate your home, get a new pool, add a room to your house or anything else you have in mind. You only pay interest on the money that you use.

Benefits include:

  • No closing costs or fees
  • Easy application
  • Quick approvals with local decision making
  • Low variable rates
  • Draw period of 10 years with up to a 15-year repayment plan
  • No prepayment penalty
  • No minimum draw amount
  • No annual fee or inactivity fee
  • Interest may be tax deductible for home related projects* 

This is a revolving-loan product that allows you to access your available credit line, as needed, during your draw period.** Your credit line is replenished every time you pay it down. For example, you can draw funds to add a new family room and, as you pay that balance down or off, you can draw from additional funds for other important uses, up to your available limit.

*Consult with a tax advisor regarding eligibility and tax deduction/benefits. 
**The initial draw period is for 10 years, with a 15 year repayment period.

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Borrowing Is Simple

  1. Apply online, call us at 623.580.6000 or 800.224.3330, or visit any Canyon State Credit Union branch.
  2. Provide a few necessary documents to process your loan application.
  3. We close your loan quickly.

Financial Calculators
Click here to calculate your new payments, how much home you can afford, and more.